Our society has great aspirations for the future. As progress accelerates in every area of our lives, so does the energy system – the very underpinning of our economy – transition as well. However, an energy future shaped by evolving innovation cannot be not be realized while relying on a grid that is fundamentally no longer fit-for-purpose. On March 28 we introduced our vision for the energy system of the future to the American people. Watch our videos of the event here.
The first article for this series discussed what productivity is and why it is important. This writing will delve into how individuals, companies and governments can influence measured productivity.
Until recently, the UK government’s future energy plans relied heavily on expensive new nuclear power plants to provide baseload capacity as old fossil fuel plants shut down. This was also going to ensure grid stability to support increased intermittent and volatile renewable generation. However, the energy system is fundamentally changing. We don’t need expensive nuclear power to keep the lights on – a more flexible energy system will enable renewables to flourish.
Founder and CTO Matthew Williams will represent both Faraday Grid and LF Energy at DistribuTECH in New Orleans this year, where he will deliver a talk on why he believes an open source system is a necessary foundation for a prosperous energy future. Read this article in which Matthew explains how open source will fuel innovation in energy and find time and date for his presentation below.
Blockchain has been a buzzword in many industries over the last couple of years, including the energy sector. However, despite best intentions, blockchain for energy continues to struggle to get beyond the hype and provide any real benefit. Instead, it adds complexity to the electricity system rather than solving the critical systemic challenge to provide people with clean, reliable and low cost power – the energy ‘trilemma’. Ready Founder & Chief Technology Officer Matthew Williams’s article that originally appeared on Current+.
In this response to Greg Clark MP, Founder & Chief Technology Officer Matthew Williams and Chief Economist & Head of Government Affairs Richard Dowling together challenge the idea that the Energy Trilemma is “over” and examine how greater amounts of renewables will affect energy security and energy equity, should there be no change to the current grid.
The word ‘productivity’ gets thrown around quite a bit by policymakers and economists, but is it really that important to our everyday lives? In this introductory piece in a series about energy and productivity, Research Analyst Oliver Forsyth explores how productivity relates to measures of welfare and economic performance.
Last week, Founder and Chief Technology Officer Matthew Williams travelled to the University of Manchester to award the first ever Faraday Grid Prize for Research for Industry. This prize recognises rigorous academic research with strong industrial applicability. It is also a great example of Faraday’s drive to enable collaboration among the academic and private sector thereby catalysing societal progress. Read Matthew’s article below to find out why he believes collaboration is a key pillar for building future prosperity.
The tenth annual Advanced Energy Conference took place in New York City to bring together influential leaders, key researchers, and policy makers from every part of the energy sector. On the opening day of the conference, Andrew Scobie, Faraday Grid CEO took stage to speak about the pioneering Faraday Grid solution, specifically, the possibilities it can open up for progressing microgrid technology.
CEO, Andrew Scobie joined industry leaders at the Energy Storage and Connected Systems 2018 conference to present at a panel discussion focusing on the systemic evolution of grid operation and its relation to new technologies. The presentation analysed the current energy challenge, mitigating technologies, and the Faraday Grid's solution.
In the current hardware of electricity systems, the supply-demand-balance has a very important implication for maintaining the system’s frequency, which needs to be stable each second of the day for the system to function properly. Non-standard frequencies can harm both transformers and appliances in people’s homes. As the energy mix changes, the feasibility of utility-scale photovoltaics as a frequency response is an area of current interest and research. The Faraday Grid resolves short-term balancing issues by modulating power flows to reduce their noise, dynamically managing the voltage and the frequency in the electricity grid in doing so.
White Paper by University of Edinburgh Chancellor’s Fellow Dr Harry van der Weijde analysing the current status of electricity grids and markets considering clean energy goals. The paper finds that the current electricity system is fast approaching a breaking point and will not be able to handle higher levels of renewable energy without substantial new costs that would hit consumers. Dr van der Weijde concludes that the Faraday Grid can resolve the challenge of increasing renewable energy penetration and preventing the looming threat of doubling or tripling of longer term electricity prices.
A modern grid supplying modern electricity demands should be able to provide environmentally friendly energy securely and at an affordable price at once. There are a number of technology pathways being suggested to modernise the electricity grid, and adapt it to the new reality of distributed variable renewable generation. This article gives an overview of these technologies.
There are multiple technologies - such as simulation studies, forecasting, and storage - for anticipating and mitigating the risks to renewable energy supplies of very rare but consequential weather events. The 21 August total solar eclipse in the United States suggests similarly that while rare, such risks arehas neither been “uncontrollable” nor “unpredictable” to policy makers. However, some of the utilized risk solutions seem to start by assuming a centralized electricity grid, where energy supplies are optimized to meet demands. As such, they overlook new possibilities of risk management in transactional electricity grids.
The intention of policy makers to reduce greenhouse emissions is a story of incentives. It’s always a story of incentives - the question is, incentives for whom and at what cost? Incentives and waste; cost and benefits, can be seen as determining the productivity of public choice. As in all human endeavors means need to be fit to ends. So the institutions and infrastructure of the energy sector need to be enabled to deliver a low carbon future.